Bitcoin is still struggling to make a sustained recovery, with its value hovering between $94,000 and $96,000 with little progress.
The situation is not looking any better for altcoins, which have seen a 3% to 4% decline throughout the day.
Bitcoin sees price volatility amid market pressure
The cryptocurrency market has seen major shifts over the past week, with Bitcoin hitting fresh gains above $108,000 at the start of the week, hitting an all-time high.
However, things turned around on Wednesday evening following the FOMC meeting, sending the price of the currency rapidly tumbling below $100,000.
This decline continued throughout the week, culminating on Friday when Bitcoin dropped to $92,000.
Despite some recovery on Saturday morning, with Bitcoin rising to $99,000, Bitcoin fell back to settle above $95,000 by the end of the week.
The crypto market is now facing questions about whether the new week will bring positive changes or further correction, as pressure from global economic factors continues to affect Bitcoin price action.
Altcoins: The Decline Continues
Altcoins have not been immune to these pressures, with most of them recording significant declines over the past few days.
Among these cryptocurrencies are XRP, AVAX, ADA, and SHIB, which continued to record losses.
Tokens such as DOT, XLM, SUI, and APT also saw additional declines over the past 24 hours.
Amidst this gloomy atmosphere, one coin stood out as an exception, namely AAVE, which achieved a 10% increase to reach $340, despite the general downward trend.
The decline affected the total market cap of the cryptocurrency market with the recent decline, as the value fell to $3.46 trillion, according to CoinGecko data.
